Philips sells 80 percent of lighting components unit for $2.8 billion
AMSTERDAM (Reuters) – Philips has agreed to sell an 80.1 percent stake in its lighting components division for $2.8 billion to Go Scale Capital, a technology fund that will seek to expand the company’s automotive and LED businesses.
China Baosteel executive under investigation for corruption
SHANGHAI (Reuters) – A top executive of China’s Baosteel Group, the parent of Baoshan Iron & Steel , is being investigated for “serious disciplinary violations”, China’s corruption watchdog said on Tuesday, as Beijing intensifies its war on deep-seated graft.
U.S. small-business borrowing slips in February, up on year: PayNet
WASHINGTON (Reuters) – U.S. small businesses took out fewer loans last month but borrowing was up from a year ago as firms ramped up investments in their operations, according to data released on Tuesday.
Cautious China banks could undermine Beijing’s property stimulus efforts
SHANGHAI (Reuters) – As stock market investors cheer Beijing’s latest bid to boost the country’s ailing housing sector, Chinese bankers are gritting their teeth over the risks they face in further relaxing lending rules to home buyers.
Taiwan to apply to join China-backed AIIB investment bank
TAIPEI (Reuters) – Taiwan will submit an application to join the Beijing-led Asian Infrastructure Investment Bank (AIIB) on Tuesday, despite historical animosity and a lack of formal diplomatic relations between the island and China.
IBM says to invest $3 billion in ‘Internet of Things’ unit
(Reuters) – International Business Machines Corp said on Tuesday it will invest $3 billion over the next four years in a new ‘Internet of Things’ unit, aiming to sell its expertise in gathering and making sense of the surge in real-time data.
Starbucks U.S. cafes debuting new smoothies, kale optional
LOS ANGELES (Reuters) – Starbucks Corp and Danone SA on Tuesday will begin selling a smoothie line at more than 4,300 U.S. Starbucks shops as part of a Greek yogurt partnership that will also include yogurt parfaits and ready-to-eat yogurt to be sold b…
U.S. may skirt oil storage crisis as drivers hit the road
NEW YORK (Reuters) – A month ago, it seemed inevitable: a massive global oversupply of crude oil production would overwhelm storage tanks in Oklahoma and fill supertankers off Singapore.
Fed’s Fischer floats shadow bank regulation framework
STONE MOUNTAIN, Ga. (Reuters) – A top U.S. Federal Reserve official on Monday suggested stress tests and certain capital requirements to contain the risks within the non-bank lending sector, while acknowledging there is little the central bank can do t…
Wall St. rebounds from recent losses; deals help
NEW YORK (Reuters) – U.S. stocks climbed more than 1 percent on Monday, rebounding from a sharp decline last week, helped by deal activity in healthcare and a bounce in energy shares.
